SE Asia Stocks-Indonesia hits record high on financials; Malaysia extends fall

By Nikhil Nainan

Dec 19 (Reuters) - Indonesian shares hit a record high on

Tuesday with financials and consumer goods driving the gains,

while Malaysian stocks were headed for a third straight session

of decline.

The Jakarta SE Composite Index rose as much as 0.7

percent to an all-time high of 6,175.372, heading for a sixth

straight session of gains.

Unilever Indonesia Tbk PT rose as much as 1.9

percent, while Bank Negara Indonesia (Persero) Tbk PT

climbed up to 3.8 percent.

Singapore shares edged up after three consecutive

sessions of declines, supported by gains in the city-state's top

three lenders.

DBS Group Holdings Ltd, Oversea-Chinese Banking

Corporation Ltd and United Overseas Bank Ltd

rose between 0.3 percent and 0.6 percent.

Thai shares extended gains into a fifth session,

buoyed by financials and consumer staples.

Kasikornbank PCL and Siam Makro PCL

rose 1.7 percent and 3.4 percent, respectively.

Malaysian shares fell as much as 0.7 percent with

financial and consumer discretionary stocks declining the most.

"There is concern that with the rate hike in the U.S., cheap

fund might flow out of the country," said Redza Rahman, head of

research at MDIF.

The Federal Reserve raised interest rates last week but left

its rate outlook for the coming years unchanged even as

policymakers projected a short-term jump in U.S. economic growth

from the Trump administration's proposed tax cuts.

Philippine shares dropped 0.8 percent after Monday's

1 percent gain, dragged down by industrials and financials.

JG Summit Holdings and BDO Unibank were

the worst performers, shedding 4.4 percent and 2.6 percent,

respectively.

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SOUTHEAST ASIAN STOCK MARKETS: CHANGE AT 0356 GMT

Change at 0356 GMT

Market Current Previous close Pct Move

Singapore 3420.97 3414.82 0.18

Bangkok 1730.67 1723.71 0.40

Manila 8355 8422.82 -0.81

Jakarta 6153.504 6133.963 0.32

Kuala Lumpur 1740.02 1751.64 -0.66

Ho Chi Minh 954.92 958.06 -0.33

Change so far this year

Market Current End 2016 Pct Move

Singapore 3420.97 2880.76 18.75

Bangkok 1730.67 1542.94 12.17

Manila 8355 6840.64 22.14

Jakarta 6153.504 5296.711 16.18

Kuala Lumpur 1740.02 1641.73 5.99

Ho Chi Minh 954.92 664.87 43.63

(Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by

Subhranshu Sahu)